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Gold futures marginally up at Rs 27,537

Speculators back increase on firming trend overseas on weak rupee.

Written by Agencies | New Delhi | Published: January 16, 2012 11:42:35 am

Gold prices rose marginally by 0.11 per cent,to Rs 27,537 per 10 grams in futures trade as speculators created fresh position on the back of a firming trend overseas amid weakness in the rupee.

At the Multi Commodity Exchange,gold for delivery in February rose by Rs 30,or 0.11 per cent,to Rs 27,537 per 10 grams,with a business turnover of 636 lots.

Similarly,the metal for delivery in April gained Rs 31,or 0.10 per cent,to Rs 27,899 per 10 grams,with a business volume of 74 lots.

Marketmen said the rise in gold prices was mainly due to a weak trend in global markets amid fall in rupee’s value,which plays an important role in fixing the landed cost of the dollar-traded metal.

Meanwhile,gold was trading 0.1 per cent higher at $1,641.07 an ounce in Singapore in early trade today.

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